Boston, MA 06/06/2014 (wallstreetpr) – Instead of embarrassment, Goldcorp Inc. (USA) (NYSE:GG) earned praises from pundits in its failed bit for Osisko Mining Corp because of its discipline approach to the matter. Goldcorp, the largest gold producer in the world by market value, disqualified itself from what was shaping out to be a hostile bid for Osisko.

Dropping the hostile bid instead of raising its offer was commendable of Goldcorp’s management. In any case, withdrawing the bid for Osisko helped Goldcorp to spare its finances for future deals.

If that is true, Goldcorp appears to be plotting for something else in the gold mining business. The company’s announced of a debt offering and its already stable cash position tells more than is apparent.

Rumors are widespread that the company might reach out for another promising miner in Canada, and that potential target is Rubicon Minerals Corp. (USA) (NYSEMKT:RBY). Rubicon, a Vancouver-based mineral exploration company with a market cap of $339 million, owns a rich mining property in Red Lake District. The area is a home to some of the world’s high-grade and long-lived minerals. The Red Lake area produced about 500,000 ounces in 2013, confirming its position as among the world’s top producers. Rubicon owns more than 100-square kilometers in the prime exploration land of Red Lake District.

A cheaper but promising option

According to pundits, if Goldcorp Inc. (USA) (NYSE:GG) decides to go for Rubicon, the company will land cheaper but promising assets. The acquisition of Rubicon might just be a fraction of the amount of money that Osisko wanted, yet Rubicon’s rich position in Red Lake makes a significant difference. Nonetheless, it should not be lost on investors that the acquisition of Osisko would have led to immediate cash flow and entry into a low-cost profile.

Boosting finances

Whether it is Rubicon Minerals (NYSEMKT:RBY) that is under the radar of Goldcorp of something else, Goldcorp is ready for something big and serious that will likely keep investors and analysts talking. The company sought approval to offer up to $1 billion in debt. That comes at a time when the company has about $1.2 billion in credit facility and $1 billion in cash at the end of 1Q2014. Goldcorp Inc. (USA) (NYSE:GG) said the $1 billion debt offering will support debt repayment and capital investments.